USDJPY is forming a sideways consolidation in a range between 110.11 and 112.19. Resistance is at 112.19, a break of this level will confirm that the downtrend from 115.50 had completed at 110.11 already, then further rise to 114.00 area could be seen. Support is at 110.11, a breakdown below this level could signal resumption of the downtrend from 115.50, then next target would be at 108.00 zone.
